Özet:

In this study, the explanations in the Key Audit Matters (KAMs) section of the Independent Audit Reports of the Real Estate Investment Trusts registered in Turkey and in the UK are examined, and a comparison is made between the two countries regarding the Key Audit Matters by giving examples from these explanations. The aim and contribution of this study is to examine the Key Audit Matters, regulated by the BDS 701 standard followed in Turkey against the internationally published ISA 701, in the Independent Audit Reports of Real Estate Investment Trusts. We include in our sample England as a developed country and Turkey as a developing country that has been implementing auditing standards for many years. Our aim is to determine the contents of the key audit matters included in the independent audit reports of the companies traded in the stock exchanges of these two countries, and to give specific information to the users of the financial statements by revealing the similarities and differences between the identified key audit matters in these two countries. Key audit issues of specific importance for the sample companies are discussed also discussed in the study. The findings indicate that the riskiest areas are affected by the sector in which the businesses operate and the reaction of the developed country to the changing conditions is faster in determining the key audit issues.

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